American Midstream Partners, LP (NYSE:AMID) Stock Rating Upgraded by Zacks Investment Research

American Midstream Partners, LP (NYSE:AMID) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

According to Zacks, “American Midstream Partners, LP is a growth-oriented limited partnership formed to provide critical midstream infrastructure that links producers of natural gas, crude oil, NGLs, condensate and specialty chemicals to end-use markets. American Midstream’s assets are strategically located in some of the most prolific onshore and offshore basins in the Permian, Eagle Ford, East Texas, Bakken and Gulf Coast. American Midstream owns or has an ownership interest in approximately 4,000 miles of interstate and intrastate pipelines, as well as ownership in gas processing plants, fractionation facilities, an offshore semisubmersible floating production system with nameplate processing capacity of 80 MBbl/d of crude oil and 200 MMcf/d of natural gas; and terminal sites with approximately 6.7 MMBbls of storage capacity. The Partnership owns the third largest cylinder exchange business and one of the largest regional retail propane providers. “

AMID has been the topic of a number of other reports. ValuEngine lowered shares of American Midstream Partners, from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Royal Bank Of Canada reissued a “buy” rating and issued a $18.00 target price on shares of American Midstream Partners, in a research note on Monday, July 24th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. American Midstream Partners, currently has a consensus rating of “Buy” and an average price target of $18.67.

Shares of American Midstream Partners, (NYSE:AMID) opened at 14.25 on Tuesday. American Midstream Partners, has a 12 month low of $11.10 and a 12 month high of $18.45. The firm’s 50-day moving average price is $13.40 and its 200-day moving average price is $14.47. The stock’s market capitalization is $745.55 million.

American Midstream Partners, (NYSE:AMID) last released its earnings results on Tuesday, August 8th. The pipeline company reported ($0.72) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.33) by $0.39. The business had revenue of $193.63 million for the quarter. On average, equities research analysts forecast that American Midstream Partners, will post ($1.71) EPS for the current year.

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Several hedge funds have recently added to or reduced their stakes in AMID. Atlantic Trust Group LLC raised its stake in American Midstream Partners, by 194.6% in the first quarter. Atlantic Trust Group LLC now owns 920,095 shares of the pipeline company’s stock valued at $13,663,000 after buying an additional 607,799 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in American Midstream Partners, during the first quarter valued at approximately $7,014,000. Clearbridge Investments LLC purchased a new stake in American Midstream Partners, during the first quarter valued at approximately $6,517,000. HITE Hedge Asset Management LLC raised its stake in American Midstream Partners, by 97.1% in the first quarter. HITE Hedge Asset Management LLC now owns 665,069 shares of the pipeline company’s stock valued at $9,876,000 after buying an additional 327,672 shares during the last quarter. Finally, OppenheimerFunds Inc. raised its stake in American Midstream Partners, by 5.2% in the first quarter. OppenheimerFunds Inc. now owns 5,798,609 shares of the pipeline company’s stock valued at $86,109,000 after buying an additional 284,188 shares during the last quarter. 44.69% of the stock is currently owned by hedge funds and other institutional investors.

About American Midstream Partners,

American Midstream Partners, LP owns, operates, develops and acquires a portfolio of midstream energy assets. The Company provides midstream infrastructure that links producers of natural gas, crude oil, natural gas liquids (NGLs), condensate and specialty chemicals to numerous intermediate and end-use markets.

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